Panel issues two-year ban and $25,000 penalty after 356 forms submitted with fake electronic signatures
The Canadian Investment Regulatory Organization (CIRO) accepted a settlement agreement with sanctions involving Jeremy Liam Short on June 12, following a hearing under the Mutual Fund Dealer Rules.
According to the settlement, Short admitted to electronically signing the signatures of 135 clients on 356 account forms submitted to the Dealer Member for processing.
He also admitted to creating 13 notes in the Dealer Member’s system containing false or misleading information, indicating clients had personally signed the forms.
In addition, he made false or misleading statements to the Dealer Member during its investigation into his conduct.
At the time of the misconduct, Short was registered as a dealing representative with Investors Group Financial Services Inc. in Winnipeg, Manitoba.
CIRO reported that Short is no longer registered in the securities industry in any capacity.
Between July 16, 2020, and January 6, 2022, Short used two electronic signing platforms (ESPs) to circumvent authentication protocols by inputting his own contact details, bypassing client review and signatures.
The affected forms included Know Your Client forms, Account Agreements, and Investment Instructions, among others.
In the case of one client, FG, Short cancelled two transfer requests without proper authorisation.
CIRO stated that he electronically signed Letters of Direction on FG’s behalf and submitted them to prevent the transfer.
FG later denied authorising the cancellations. Following an internal investigation, the Dealer Member compensated FG $285 for the delay and reassigned Short’s remaining clients to new representatives.
CIRO reported that none of those clients complained or identified unauthorised activity.
During the Dealer Member's investigation in January 2022, Short made statements denying similar conduct with other clients. However, CIRO later found he had signed on behalf of 135 clients, not just FG.
Short began his role in the industry in February 2020 and was 25 years old when the violations began.
He stated that pandemic restrictions and client difficulties with technology contributed to his conduct, though he acknowledged these were not valid justifications.
CIRO also noted that after his termination in May 2022, Short did not secure new employment until September 2023 and provided evidence of modest income during 2022–2024.
As part of the settlement, Short agreed to a $20,000 fine, $5,000 in costs, and a two-year prohibition from conducting securities-related business with any CIRO Dealer Member.
